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50844507 No.50844507 [Reply] [Original]

literally what the FUCK is PoS? how does it ensure security? where does the value come from?

>> No.50844579

Proof of Steak
Medium Rare
> inb4 proof of shit, proof of pajeet, proof of Rajesh, proof of jeet

>> No.50844605

>https://craigwright.net/blog/bitcoin-blockchain-tech/proof-of-unregistered-security/
here are satoshis thoughts on the matter

>> No.50845053

>>50844507
I must admit Ive wondered how "coins" can manage to validate a transaction in the same way a miner can

>> No.50845097

>>50844507
The great benefit of PoS is that since coins are massively premined, the developers and venture capitalists get all the block rewards, along with the big exchanges that hold tons of coins. This helps ensure the rich get richer. And there is a convient excuse to tell people: It's green.

>> No.50845108

>>50844507
the retard version
>people with more coins get rewarded for using their coins to provide liquidity in transactions and because they are owning a large amount of coins use it to validate based on the % of coins they put in the pool
compare to proof of work or how bitcoin does it
>every fucking thing in the network is saved on every fucking miner's computer and then recalled to validate the blookchain for others which uses a lot of power to do so and rewards peanuts in bitcoin for their power

>> No.50845358

>>50845108
so... are you providing liquidity or are you validating txns?

HOW are you validating txns just by "locking" coins in a protocol?

>> No.50845896
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50845896

>>50844507
Post more ai pepes

>> No.50845926

>>50845097
Such a shame for all those mom and pop PoW mining operations.

>> No.50846017

>ledger determines the stakeholders
>stakeholders determines the ledger

Sounds promising

>> No.50846050

>>50845358
You are risking your stake. If you generate blocks properly you are rewarded. If you don’t (unintentional or not down times or forks) you are punished and lose some stake. But eventually, human nature will prevail and the richest will take control and screw everyone else.

>> No.50846208
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50846208

>>50845896

>> No.50846225

The value comes from the utility of the network. I know the idea of utility is hard to grasp when your entire worldview of crypto is paying an electricity bill to get a digital receipt participation award token

>> No.50846248

>>50846225
"utility of the network"

can you give one example?

>> No.50846249
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50846249

>>50845926
WHAT DID YOU MEAN BY THIS MY HECKIN GRAPHICS CARD JUST MINED ME 30 CENTS YESTERDAY

>> No.50846302

Just an excuse for whales to milk as much money out of ETH as possible before it dies.

>> No.50846866
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50846866

>>50846208

>> No.50847381
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50847381

>>50846866

>> No.50847482

>>50844605
meds